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The U.S. Economy. There was a gentle subsidence in the U.S. in 2001.The economy started to become fundamentally in 2003. From summer 2003 to December 2007, U.S. livelihood expanded by 8.7 million occupations (6.4%).This was 52 continuous months of employment increments until January 2008.January 2008 job declined by 22,000 employments..
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EAST CHINA SCHOOL DISTRICT The US & Michigan Economies How They Impact ECSD April 2008

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The U.S. Economy There was a gentle subsidence in the U.S. in 2001. The economy started to develop altogether in 2003. From summer 2003 to December 2007, U.S. work expanded by 8.7 million employments (6.4%). This was 52 back to back months of employment increments until January 2008. January 2008 work declined by 22,000 occupations.

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U.S. Economy February 2008 work declined by 63,000 employments and March 2008 declined by 80,000 occupations U.S. finance business: 137.9 million Unemployment rate: 4.8% Manufacturing – 299,000 employments lost over last year Construction – 331,000 occupations lost since September 2006 pinnacle

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Michigan\'s Economic Recovery Has Not Happened The Michigan economy has demonstrated little change since the 2001 retreat. Michigan\'s work has lost 448,100 occupations since June 2000 (9.5%). Michigan work is required to decay by 81,000 occupations in 2008 and 34,000 employments in 2009. NINE sequential years of business decay is the most in Michigan\'s history

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HOW DOES THE ECONOMY AFFECT THE BUDGET? Michigan\'s employment misfortunes mean less income to State government from salary charges, business charges, deals/utilize charges Lack of income restricts the State\'s capacity to completely support the Foundation Allowance Lack of openings for work influences what number of individuals move to Michigan and our group

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How Has State Spending Been Affected? Because of restricted income, general state spending has diminished from 2002 to 2008 when balanced for expansion K-12, Community Colleges and Higher Ed, and income sharing installments have seen the best swelling balanced decreases

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State Spending Selected Budget Areas 2002-03 to 2007-08 Changes in State Spending from State Resources for: Community Health = 53.0% Corrections = 24.8% Human Services = 14.0% K-12 = 1.7% Comm. College = 2.6% Higher Ed. = 2.7% Rev. Sharing = -13.2% TOTAL STATE SPENDING = 8.9% DETROIT CPI = 11.9%

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Shifting Priorities in State Spending

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FOUNDATION ALLOWANCE Over the 5 year time frame, 2003 - 2008: Total $ Increase $517 Average Annual Increase – 1.4% Total Percentage Increase 7.03% Compared to Detroit CPI Increase of 11.9% Current Foundation Detroit CPI Foundation $7,870 $8,515 Additional $645 per student expected to match general swelling for the period ($3.5 million for every year!!!)

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ECSD Fall Enrollment Fiscal Year Ending June

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Declining Enrollment 75% of Michigan school areas are encountering declining enlistment. Around 80% of the decrease in enlistment in Michigan is because of lower birth rate ECSD is graduating 500 seniors and realizing in 300 kindergartners every year The 25-35 year old populace is declining in Michigan

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St. Clair County Student Enrollment Declines 2003-2007

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Cost of Declining Enrollment 342 Students X $7,870 = $2,691,540 So, East China School District does not get $2,691,540 in subsidizing every year because of less understudies in our region

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ECSD is Moving Forward! We are managing declining enlistment and the resulting subsidizing, yet we are as yet meeting our objectives! Intercession Programs Spanish Language Programs Curriculum Realignment Technology Initiatives Student Performance Communication inside and remotely Maintaining offices ECSD is THE school of decision (147 selecting in with just 17 quitting, as answered to the condition of Michigan)

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Fund Equity Considerations FUND EQUITY is otherwise called CASH FLOW $4.8 million is gotten after the financial year every year Without $5 million in reserve value, ECSD would need to get cash to meet finance for July, August, and September and cause more cost Fund value can be utilized for one-time costs, yet ought not subsidize progressing costs (it will exhaust) Operating costs should be inside one percent of incomes for the monetary allowance to adjust before the finish of the monetary year

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Sinking Fund Millage Renewal Election May 6, 2008 The Sinking Fund can keep on helping diminish weight on the general store by paying for capital changes and redesigns. VOTE! May 6, 2008

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East China School District Sinking Fund Proposal Millage endorsed in 2005 is terminating. Proposition will recharge the lapsing .4 plants. 5 year term. Will raise $750,000 every year. VOTE! Tuesday, May 6

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Total Debt & Sinking Fund Levy

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Are there limitations on a sinking reserve? A sinking asset is not permitted to be utilized for routine upkeep things. It can\'t be utilized for pay rates or advantages. It is confined to capital upkeep extends as affirmed by the State Department of Treasury. The sinking store must be inspected every year. VOTE! Tuesday, May 6

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Parking Lots/Driveways Repaved! Looker River & Pine River Elementary, Marine City Middle, Riverview East High, Stadium Transportation Department Carpeting Replaced! Whirlpool, Gearing, Palms, Pine River and Washington Elementary  Gym Bleachers Installed! Marine City Middle Sinking Fund Projects Completed VOTE! Tuesday, May 6

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Sinking Fund Projects Completed  Roofs Repaired! Area wide  Student Lavatories Renovated! Marine City Middle  HVAC System Upgraded! Vortex & Washington Elementary  Gym Floor Replaced! Outfitting Elementary, Marine City High VOTE! Tuesday, May 6

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Sinking Fund Projects PROPOSED  Roof Replacements Eddy, & Palms Elementary, Marine City & St. Clair High School, Administration Building, Ward Cottrell HVAC Renovations Belle River & Pine River Elementary, St. Clair High School VOTE! Tuesday, May 6

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Sinking Fund Projects PROPOSED  Parking Lot Repaving Eddy Elementary, Marine City High School, Administration Building  Gym Floor Replacements Belle River & Pine River Elementary  Cafeteria Floor Replacement Palms Elementary VOTE! Tuesday, May 6

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East China School District Sinking Fund Proposal JUST THE FACTS!! Reestablishment of terminating millage. 4/10 ths of one plant. 5 year term. VOTE! Tuesday, May 6

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